Share via

France’s Socialist government hinted yesterday that it could take a stake in Alstom to thwart General Electric’s €12.35 billion bid for the French group’s power division.

The tactic was mooted by Arnaud Montebourg, the economy minister, who insisted that he could still block the American group even though it has the support of Alstom’s board.

The directors said last night that they would recommend GE’s offer for its thermal power, renewable energy and grid businesses, which accounted for €14.81 billion of its €20.27 billion sales last year.

The move would leave Alstom with its transport division, whose products include France’s